Lower trade barriers are a key economic driver of globalization
True
Globalization leads to greater competition among domestic firms
Technological advances in communication and transportation have facilitated international trade and collaboration
Globalization involves increased interconnectedness and interdependence among countries through trade, investment, migration, technology, and cultural exchange
Globalization has resulted in increased economic growth for many countries
True
Advances in communication and transportation technologies are a key technological driver of globalization
Globalization has led to increased trade and economic growth
One key economic driver of globalization is lower trade barriers
Globalization has led to greater integration and interdependence between countries
True
Globalization has decreased competition for domestic firms.
False
What are the three main economic impacts of globalization?
Trade, competition, knowledge
What is one positive effect of globalization?
Increased trade
Globalization involves increased interconnectedness and interdependence among countries.
True
Order the economic drivers of globalization:
1️⃣ Lower trade barriers
2️⃣ Increased foreign direct investment
3️⃣ Global supply chains
International agreements and organizations are political drivers of globalization
Globalization has led to economic growth in participating countries.
True
Globalization involves increased interconnectedness and interdependence among countries through trade, investment, migration, technology, and cultural exchange
Match the driver of globalization with its description:
Economic ↔️ Lower trade barriers and global supply chains
Technological ↔️ Advances in communication and transportation
Political ↔️ International agreements and organizations
Cultural ↔️ Spread of global brands
What are the primary factors contributing to globalization?
Trade, technology, culture, investment
Globalization has led to the spread of ideas and technologies across borders
True
Match the driver of globalization with its description:
Economic ↔️ Lower trade barriers and global supply chains
Technological ↔️ Advances in communication and transportation
Political ↔️ International agreements and organizations
Cultural ↔️ Spread of global brands
One economic driver of globalization is the reduction of trade barriers
Match the driver of globalization with its description:
Economic ↔️ Lower trade barriers and global supply chains
Technological ↔️ Advances in communication and transportation
Political ↔️ International agreements and organizations
Cultural ↔️ Spread of global brands
Greater competition from globalization forces domestic firms to innovate
True
Match the driver of globalization with its description:
Economic ↔️ Lower trade barriers and global supply chains
Technological ↔️ Advances in communication and transportation
Political ↔️ International agreements and organizations
Cultural ↔️ Spread of global brands
How has globalization affected trade barriers and international integration?
Lower trade barriers
Globalization has facilitated the spread of ideas, knowledge, and technologies
Globalization has only positive effects on economies worldwide.
False
Globalization can lead to environmental degradation
Match the positive effect of globalization with its negative effect:
Increased Trade and Economic Growth ↔️ Income Inequality
Greater Competition ↔️ Environmental Degradation
Spread of Ideas and Technologies ↔️ Job Displacement
What are the key drivers of globalization?
Economic, technological, political, cultural
How have advances in communication and transportation technologies facilitated globalization?
Reduced costs and time
Match the driver of globalization with its description:
Economic ↔️ Lower trade barriers and global supply chains
Technological ↔️ Advances in communication and transportation
Political ↔️ International agreements and organizations